The assistance amount that a borrower receives may be dependent on several factors including the program, the … The loan is recorded as a second mortgage, (lien), on the property being purchased. CHE also offers up to $10,000 in down payment assistance loans through a separate program. However, the Preferred program with requires 3 percent Colorado down (must be your own funds) and Colorado borrowers must contribute a minimum of $1,000 towards the loan. We will match you with a mortgage lender that specializes in helping first time home buyers in Colorado find down payment assistance. PROGRAMS NOW ALLOW YOU TO MAKE UP TO $150,000 AND STILL QUALIFY! Please note that all programs listed on this page may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until … No 1st Time Home-buyer Requirement! CHAC provides first-time homebuyers with flexible loans that have low interest and are recorded as a second mortgage. Amounts are based on loan amount of $200,000, interest rate of 4.185%, APR of 5.132%, $6,023 due from borrower at closing ($8,000 down payment paid through down payment assistance program). The Colorado Housing Assistance Corporation (CHAC) is one of the best down payment assistance programs in Colorado. How does a Down Payment Assistance* program work? Welcome to the Colorado Down Payment Assistance Grants page for first time home buyers. Colorado Down Payment Assistance Programs Give Up to $25,000 Towards Buying A Home! Grand County Housing Authority – Down Payment Assistance Loan Program and Homebuyer Education, or call (970) 725-3071. DPA programs may be able to provide borrowers with down payment and/or closing cost assistance. Colorado Housing Assistance Corporation (CHAC): The CHAC provides a down payment assistance program for low and moderate income families. PROGRAMS IN COLORADO. Loan down payment example is based on a 30 year fixed conventional mortgage loan with 4.0% down (provided through the Down Payment Assistance program). As a first time home buyer, you should be sure to check out all of the valuable information available to you in our Education Section.. It’s a … Payment (principal plus interest) is due at sale, change of ownership, or refinance of property. This Colorado down payment program has income and purchase price limits, and can be combined with the Colorado down payment and closing cost programs. The following down payment assistance programs and/or grants were researched by the team at FHA.com. We’re glad you’ve made your way here! No monthly payments, and 4% simple interest is charged for the first 10 years. CHAC – Colorado Housing Assistance Corp: “CHAC provides low-interest, flexible loans to low and moderate (80% AMI) income first-time home buyers for down payment and closing cost assistance throughout Colorado. Colorado first time home buyers get $3,600 to $15,000 down payment assistance. 720-482-3000 Application Process: The application process for the Boulder County Down Payment Assistance Program is a two-part process. Colorado Housing Enterprises serves all of Colorado with helpful homebuyer programs.In addition to mortgage counseling and homebuyer education classes, CHE may also be able to help you access $15,000 in down payment assistance through the Neighborhood LIFT program! Colorado down payment assistance programs have no seller conditions or contribution requirements. Fill Out Your Info Below To Learn About Which Programs You Qualify For! First-time home buyer programs that help you purchase your 1st home. 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